In Debt Up To Our Eyeballs

By Michael Snyder, on October 18th, 2011

The entire financial system of the western world is designed to be a debt spiral. The total amount of money and and the total amount of debt are supposed to continually expand. Today, we are in debt up to our eyeballs and it seems like nearly everyone is talking about “deleveraging” and reducing government debt. But in a world where the entire financial system is based on debt, is there any way for massive deleveraging to take place without plunging us all into a horrific worldwide depression? The governments of the western world have had a lot of fun spending money as if there was no tomorrow, but now tomorrow has arrived and all of that debt is rapidly catching up with us. Politicians in Europe and in the United States are running around trying to come up with a “plan”, but there is no “plan” that is going to fix the current debt-based system. Over the next few years we are going to reap what we have sown.

For fiscal year 2011, the U.S. federal government had a budget deficit of nearly 1.3 trillion dollars. That was the third year in a row that our budget deficit has topped a trillion dollars.

Sadly, most Americans simply have no idea how much money a trillion dollars is.

Perhaps an illustration or two would help.

If on the day when Jesus was born you began spending one million dollars every single day, you still would not have spent one trillion dollars by now.

That is how large a trillion dollars is.

If you went out today and started spending one dollar every single second, it would take you over 31,000 years to spend one trillion dollars.

Some people have suggested that we could solve our problems by taxing the rich.

Well, if Bill Gates gave every single penny of his fortune to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.

No, the truth is that what we have is a spending problem.

The U.S. federal government is spending way, way too much money. Total U.S. government debt will soon cross the 15 trillion dollar mark.

Should we do something to celebrate such a monumental national achievement?

It really takes a special effort to borrow 15 trillion dollars.

We have accumulated the largest mountain of debt in the history of the world, and yet our government continues to add to our debt at a blistering pace.

If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt.

Unfortunately, we are not paying it off right now. Instead, we are adding even more to it.

Back in the early 1980s, Ronald Reagan declared the national debt to be a national crisis.

Well, today our national debt is more than 14 times larger than it was when Reagan took office.

Something has gone horribly, horribly wrong.

Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.

Spending is going in the wrong direction.

And most government spending goes into the pockets of individual Americans.

59 percent of all Americans now receive money from the federal government in one form or another.

We have got tens of millions of Americans that are completely and totally addicted to getting money from the federal government.

But wasn’t the Tea Party supposed to do something about all of this crazy government spending?

Unfortunately, the Tea Party has failed in this area. In the mainstream media there is talk of “austerity” by the federal government, but the truth is that spending by the federal government has increased by about 5 percent so far this year.

We are hurtling toward a “debt wall” and the brakes don’t seem to work.

Europe is in a massive amount of debt trouble as well. In fact, a financial meltdown is probably going to happen in Europe before it happens in the United States.

Greece, Portugal, Ireland and Italy all have debt to GDP ratios that are well above 100%. Spain is in a massive amount of trouble as well.

Right now, Greece, Portugal, Ireland, Italy and Spain owe the rest of the world about 3 trillion euros combined.

Greece is on the verge of a default of one form or another, and Italy and Portugal look like they will not be far behind.

As the financial world braces for a Greek default, the yields on Greek bonds are going absolutely crazy. The yield on 2 year Greek bonds is now over 70 percent. The yield on 1 year Greek bonds is now over 170 percent.

Sadly, it looks like Portuguese bonds are starting to go down the same path. The yield on 2 year Portuguese bonds is now over 17 percent. A year ago the yield on those bonds was about 4 percent.

European banks are also drowning in an ocean of debt.

According to renowned financial journalist Ambrose Evans-Pritchard, banks in Europe need to reduce the amount of lending on their books by about 7 trillion dollars in order to get down to safe levels….

Europe’s banks face a $7 trillion lending contraction to bring their balance sheets in line with the US and Japan, threatening to trap the region in a credit crunch and chronic depression for a decade.

The risk is “Japanisation” without the benefits of Japan: without a single government, or a trade super-surplus, or 1pc debt costs, or unique social cohesion.

Already the financial crisis in Europe has pushed unemployment to frightening levels. So what will happen if you add massive deleveraging to the equation? Ambrose Evans-Pritchard is very concerned about what might happen in some of the most troubled nations….

Even today, the jobless rate for youth is near 10pc in Japan. It is already 46pc in Spain, 43pc in Greece, 32pc in Ireland, and 27pc in Italy. We will discover over time what yet more debt deleveraging will do to these societies.

Major European banks not only have too many loans on their books – they have also borrowed way, way too much money themselves.

The truth is that most major European banks are leveraged to the hilt and are massively exposed to sovereign debt. Before it fell in 2008, Lehman Brothers was leveraged 31 to 1. Today, major German banks are leveraged 32 to 1, and those banks are currently holding a massive amount of European sovereign debt.

What all of this means is that we are on the verge of some really bad stuff.

The governments of the world are up to their eyeballs in debt. According to the Economist, the governments of the world combined are more than 40 trillion dollars in debt. But that total only counts government debt held by the public and it does not include any future obligations (such as Social Security, etc.) owed by national governments.

It would be hard to overstate how much of a crisis this is.

But just like with the subprime mortgage meltdown of a few years ago, a number of very savvy investors and economists can see what is coming.

For example, Texas investor Kyle Bass made millions and millions of dollars betting against subprime mortgages, and now he is warning that we are facing a crisis much greater than that.

Bass believes that the European debt crisis is soon going to explode. In particular, he has been putting his money into investments that will pay off big if Greek debt collapses.

But that is not all Bass has been up to. He has been stockpiling gold, guns and nickels (20 million nickels to be exact).

Bass appears to be well prepared for the coming economic collapse. The following is how one writer described his visit to the 40,000 square foot “fort” owned by Bass….

“We hopped into his Hummer, decorated with bumper stickers (God Bless Our Troops, Especially Our Snipers) and customized to maximize the amount of fun its owner could have in it: for instance, he could press a button and, James Bond–like, coat the road behind him in giant tacks. We roared out into the Texas hill country, where, with the fortune he’d made off the subprime crisis, Kyle Bass had purchased what amounted to a fort: a forty-thousand-square-foot ranch house on thousands of acres in the middle of nowhere, with its own water supply, and an arsenal of automatic weapons and sniper rifles and small explosives to equip a battalion.”

If only the rest of us were so well prepared, eh?

So if this is the kind of thing that the “financial experts” are doing, then what is the message for us?

A great storm is coming, and most Americans are going to be totally unprepared for it.

A significant percentage of Americans have already lost faith in the system. According to a new Gallup poll, 44 percent of all Americans say that our economic system is “unfair” to them on a personal level.

But sadly, most Americans don’t really understand the mechanics of our financial system.

They don’t understand what actually makes it unfair.

That is why we need to work so hard to educate the American people about the Federal Reserve. The Federal Reserve system is at the very heart of our financial system, and it was designed to get the U.S. government perpetually enslaved to debt.

At this point, the U.S. national debt is 4700 times larger than it was when the Federal Reserve was created back in 1913.

It looks like the creators of the Federal Reserve achieved their goal.

Posted below is a cartoon that was published one year before the creation of the Federal Reserve. The intent of this cartoon was to criticize the “Aldrich plan” which was a precursor to the plan to create the Federal Reserve.

As you can see below, the creator of this cartoon had a good idea of what would happen if the plan put forward by Rhode Island Senator Nelson Aldrich was adopted.

Today, the Federal Reserve totally dominates our financial system just like this cartoon once warned would happen if we allowed a central bank to control our money….

What? You mean you don’t have a Hummer that coats the road with giant tacks at the press of a button? Come on. I thought everybody had one.

Seriously though– I had to get out my calculator to check the math on that trillion dollar illustration (a million dollars a day since the day Jesus was born). That is truly astonishing.

The cartoon made my heart skip a beat. That is really something. Thanks once again for the great info.

Michael

You are welcome.

And I ran the numbers on that one on my calculator too. It really is hard to believe. 🙂

Michael

kris

Hi Michael,

Greetings from Indonesia. nice blog you have here. i find it very informative and helpful to get prepared for the dark days ahead.

Keep up the good work, and God bless you !

Michael

Kris:

It is great to hear from someone in Indonesia! I have never been there, but I would love to visit someday.

May God bless you and your family as well.

Michael

H8TheFed

Figuring 2011 years since Jesus was born I calculate we would have spent only 734.5 Billion dollars by now at one million per day. What to do with the remaining 265.5 Billion…hmmm….I know! Give it to the government! It will be gone in a few weeks!

r.bitting

” Whats going to happen (if) a worldwide depression hits “… First, I believe you know better than “if ” it hits. Also, you are beginning to get a taste of the social upheaval that is sure to follow ” when ” it does hit. I believe the civil unrest, when it’s at it’s height will look like a cross between the French Revolution & the Salem witch hunts from the 1600’s. The French Revolution, because as I have said here before, that in the end those who lead the revolt later found their own necks on the guillotine, victims of the monster that they created. You see this in ” Occupy Wall Street ” because when the people, who think they were standing up for a good cause, find out that they were merely useful idiots for those who sought power, when they come to that realization, then those who sought the power will become the hunted. I liken it to the Salem witch hunts because at it’s height, the people turned on one another, mistrust of everyone for his neighbor ruled the day. If they did not like their neighbor, they would simply notify the authorities that their neighbor was a practicing witch, have them arrested and executed, and thus do away with anyone they did’nt like. It would look exactly like that, only replace the witch with the Christian or the Jew or the rich person or the business owner ( Remember Great Britian just three months ago ? ). Thank God for his mercy and grace. God loves you people, even if you hate him, he waits eagerly hoping to embrace you with his love no matter what your past. Please turn to him, trust in Christ and be saved..

Bone Idle

So far the civil unrest has been largely attended by the usual suspect professional activist/mindless lefties. If the S.H.T.F. then more of the silent majority will begin to get disturbed and take real action. This is when real leaders will stand up. Woe betide the current lot of second rate professional alleged politicians. The coming real leaders will sweep them aside if not the current lot had better watch out for their heads.
It is my opinion that the coming depression will make the thirties depression look like a cakewalk. There will be a real chance of civil war between those have and have not or those who will work and those who believe that the world owes them a living.

Jamcanig

“because when the people, who think they were standing up for a good cause, find out that they were merely useful idiots for those who sought power”
Can you expand on that? Perhaps you need to ask your god to reduce your paranoia.

r.bitting

I would be happy to. Many people who are taking part in the protests around the world are doing so because they and their families are suffering great financial hardship and they desire to affect change within the current system. Completely understandable . However, they are being orchestrated by unions and other entities such as ACORN, who also seek to affect change. They have a different vision than that of the people though, they want power and complete control over the people in every aspect of their lives. They also know that they can capitalize on the people’s suffering, using it as a rallying cry against the ” corrupt leaders & the bankers and their failed policies and greed ” Which makes sense to the average person no matter what their party affiliation may be, because they are corrupt ( I personally think the morals of the leaders and the followers is in question ). They wish to start a revolution, not for the sake of the people but to advance own cause. They have promised the people prosperity but they have no intention of delivering. Thus the people have become to them useful idiots. This will be their undoing however, because once the people realize they have been lied to they will turn on the new leadership just as fast as they did on the old. You know the old saying ” what have you done for me lately?” You see, at the end of the day, people are all about getting their needs met. But I noticed that you refer to my God as if to imply my creator is not yours also. So if you don’t mind, would you please expand on what exactly it is you believe and please explain what you base this belief on. I will look for your reply.

knightowl77

Amen Bro….

Useful Idiots indeed…Though I fear we all have been at one time or another.

The Salem Witch episode is a perfect example of what happens during the collapse of socialism (that is, the descent into tyranny). A few examples of this are : Russia, Cambodia, China, etc. under communism.

This is also the direction that we can (unfortunately) expect America to go in as it moves further along the socialism continuum.

All of this is extremely depressing. We should all start learning Mandarin and Cantonese. Either that or move somewhere in Europe where you more likely to get a job than be thrown in prison for years at a time for something petty or be able to get an education and proper healthcare without signing up for eternal debt bondage and absolute financial ruin. America is a dead horse at this point. Illegal immigration from Latin America has even been declining because Mexico has a lower unemployment rate than America! Also, why would Latinos want to live in America when almost every Latin American community and barrio in the United States is plagued with relentless bloody gang violence from Nortenos and Surenos in California to Latin Kings in Chicago and New York. America is NOT the land of opportunity anymore. Instead, our out of touch elite like Herman Cain blame the victims of our corrupt system and tell downsized foreclosed America to “eat cake”.

007

Right now a self sustaining island sounds nice. Everyone is starting to see it coming.

bobbobbobbob

U SPELT AMERICA WRONG CORRECT SPELLING amerika

Highspeed

Michael,
Another +1 article. Thanks again for keeping your eye on the ball. A whole lot of people will owe their lives to you and others like you who keep us informed. Back in the 80’s my wife worked for the Bass brothers in Ft. Worth. She was with the Lone Star gas co. Let me tell you, those were some good days for my family. I am sad to say though, that those days are over for America. I wish we all had a fort to hide in.

Michael

I wish I had a fort too

LOL

And thank you for giving the article a “+1”. It takes just a second to click that button, but it really does help out the site a lot.

Michael

REED RICHARDS

Michael,

I have asked this question before with no answer from you, but I’ll ask again: What are you trying to accomplish here, if anything? What is/are the goal(s)? Your articles seem to have a good flare for stating the obvious in terms of problems the asylum faces and some mythology mixed in from a rightwing slant for flavor, but you are very thin if not virtually non-existent on solutions to anything. You state that the “tea party” has failed with regard to reigning in spending. But what you fail to mention is that the teabaggers and the republican wing of the war party are one and the same. This explains why, even with the House in the hands of the republican wing of the war party spending has only increased.
“The GOP” wing of the war party had no intention whatsoever of reducing spending, bagmen GOP operatives only used the original tea party sentiment started by Ron Paul back in 2007-2008 to win back power in the federal and state governments.

And celebrating some “moneybags insider” who has built his fortress by gaming a system betting on subprime mortgages he knew were fraudulent says a lot about what you and most people today think about the “work ethos” that you often claim that amerikans should have. Well, with the Federal Reserve keeping interest rates at zero for eternity, where do you think this guy had all that extra capital with which to bet big on those subprime mortgages? That’s right. He got as much if not more free money than the people getting monthly food stamp debit cards from JP Morgan Chase Bank. It seems that you don’t believe in hard work being its own reward but rather you simply worship at the altar of money, regardless of how it’s acquired. But in the same breath, you complain about the 59 percent of people who in some form or another, get money from the federal government.

IN A NUTSHELL:

The Asylum States of Amerika federal government wants as many people on the dole and dependent upon them as humanly possible? Why? Because in their view a population that is dependent is much easier to control. And with the continued outsourcing of jobs being the current and only economic model, It does not take any great intellect to conclude that this 59 percent number will rise even higher. But keep celebrating the Basses of the world, because nothing says “entrepreneur” more than some insider who gambles for a living while creating nothing of consequence for the economy as a whole………….

Michael

Reed:

I am trying to accomplish a number of things.

One of the things I am trying to do is to help the American people wake up.

Canada not only have fully recovered from the 2008 hit from Wall Street, but now exceeded pre-2008 performance in public finances, banking, industry, housing and employment. Today it is at the top of G8/G20. The author has some suggestions for America.

REED RICHARDS

Old Man,

YOU KNOW MY SAYING: I HAVE NO SYMPATHY FOR PEOPLE WHOSE WOUNDS ARE SELF-INFLICTED:

Exceptionalism is merely the drug that political dope-pushers have been feeding amerikans to intoxicate them since way back when. This is the great distraction with which the political dope-pushers have used for the last 30 or so years to get people to vote against and support people and causes that are against their own interests. This strategy works extremely well because the amerikan populace is so incredibly dumbed down that they would indeed vote for Sesame Street Muppets if their names appeared on electoral ballots.

SS

So, how exactly does one make money when Greece and the rest of them start defaulting?

007

Should be a good time to buy gold. ECB will have to “loan” (print) money to the broke banks and governments. However, you may want to wait for our FED to start a QE3 program before you buy. FED will have no choice but to do QE3 because the ECB bail out will drive our exchange rate up to Pluto. My bet is that the FED will do QE3 at the same time.

I am buying the dips. Gold will be over $2,000 by year end.

prosperity for all

Look up Nelson Aldrich on Wikipedia.

mark

The articles on this websie and an American Dream have been outstanding the last few days. None of us really knows when the collaspe will happen, but happen it will. I was talking to an older fellow (79 years old) the other day, he sure wished he would be gone before it happens. This man is somewhat prepared as he had a least a one year food storage at home. This can go on for some time yet as long as most people still think they will be either paid back or recieve their welfare check. In the end most will be left holding the bag that will be empty. I am not looking forward to the coming collaspe. We live a pretty peaceful life in the country and work in the garden a lot. No one bothers the food we grow or the cattle we raise. If things keep going downhill with our economy and I see many reasons to continue the downhill trend everything will change. We are talking with our neighbors about what we will have to do to feed each other as some raise honey and I raise beef and a very large garden. Outsiders, it is kind of strange to refer to others that way can help if they are trustworthy. We will have to help feed others as we can. Are you preparing for what may be comming your way?

007

Unfortunately, everyone better hope they find creative ways to print money and give it to the broke banks and governments. That is the whole thing holding up the house of cards.

When it all crashes, they will propose a world government and a one world currency. The suffering and pain will be so enormous the world will agree to it. You can easily see it coming.

Prophet

The debt is a fraud. The fact that the US government “borrows” money is a fraud. The US can issue credit itself without borrowing the money. Just Nationalize the FED and run the printing presses… there will be no need to borrow the money. I am quite serious about this. Inflation can be counteracted through raising bank reserve requirements and ending fractional reserve banking!
The US can directly issue credit and solve the supposed “crisis” system we are in.

007

This is really horrible to watch. Like a bad train wreck in slow motion.

This is a video I put together to show the very significant meaning of differences between a federal reserve note and a silver certificate. It demonstrates how we have been tricked by the government and the banks into becoming a part of the debt-money machine.

Michael

ScoutMotto:

Interesting video! Hopefully people will check it out.

Michael

Jay Are

Of course nobody wants to go into another depression, but what else is there to do? Oh! I know! We can grow up and come to terms with the fact that we have been living above our means for decades. And now, this is our reward for being so pig headed and thinking that the sun will never come up on the party, showing just want a mess we’ve made of things. The People are not really the problem with what has happened. But yet again, we are as we have allowed our government to coddle us and hold our hand, telling us that everything will be juuuust fine. Just give us the powers to do whatever we want. Trust us. Well, this is what happens when you allow career politicians, lobbyists and foreign nationals and nazis to run things. This country and the entire planet deserve to be plunged into another depression 1000 Times worse that the 1929 corrective depression. The circuit breakers need to be tripped and the system reset over a couple decades. We have forgotten what it means to be American. We have forgotten what it means to have to fight for our own Rights & Freedoms. And now, sooner than later… We will have to fight for our Right to merely survive. The Herd will be thinned out and so will the likes of the elite who started the entire mess. And then, when the smoke clears and the people are told we need more Central Banks to help rebuild, the very first things that need to be built are the guillotines to handle the workload by all those pushing for another Central Bank. In the end, the Central Banks of the world are at the root of the worlds’ problems. Let the Central Bank buildings stand as a reminder, with the chiseled message upon their doors, “NEVER AGAIN!”

007

The government that has been coddling us is about to drop us on our asses. We will all be on our own very soon.

What about the new world order…To cut a story short,Rothschild will be there to mop up the pieces when the financial system is collapsed purposely to bring around a one world banking system.The industrial military complex is on the war path to do just that….Make way for corporate rule,and more war,just as the new world order commands…

Ray

I honestly believe that to miss out the “new world order”,the “industrial military complex”,and the “illuminati”is either missing the point or,deliberately misleading.Be careful what you read,as the season for misinformation is well under way…

Nexus789

What about the estimated $600Trillion in toxic derivatives that have no counter parties and are concentrated in four 4 US banks. The GDP of the world economy is just under $70Trillion in terms of what we physically produce – this is under 10% of this monumental debt. There is not enough resources in the whole world to cover this. Will the bankers be held to account? No they will not.

JustanOGuy

Another great article Michael!

Socialists always like to see failure. It makes their goal of more control so much easier when so many people will be looking for help when the $%^! hits the fan.

There’s a couple of old sayings which the American (and British) people should bear in mind:

1. If you do what you have always done, you will get what you have always got(ten).

2. The people of a democratic country always deserve the government they vote in.

I wonder what would have happened if more people voted for Ron Paul a few years back.

Maria

This whole fiat paradigm is coming to an end, and we should welcome that fact. Instead of wasting our valuable time worrying about how to resurrect it, we should focus our efforts on beginning/transitioning into a better system. We have the potential of doing so much better! Why are we allowing a few very greedy banks and corporations to rule us all? We don’t need them. In fact, taking away their power over us all will open up opportunities to improve everything in our lives. They do not properly manage the world’s resources, because everything is controlled and restricted for their personal profit. They do not research and develop anything that they cannot control and profit from. Everything is geared toward serving them….education, taxes, science and medicine, politics, government, agriculture, everything….even entertainment! It doesn’t have to be this way. The collapse of this fiat paradigm could be the beginning of something much better. No more communism, fascism, feudalism, or false capitalism. The thing we have to figure out is how to take back control of our world.

How can we do that?

With God and for God. Our prayer will help us to see the purpose and potential for which God created us. He will show us how to do it right and give us the grace to empower our action.

Interesting, I like the fact the fellow is preparing and could easily put up several people along with him. He has right idea about stocking up and true, that does cost-but, he is also making money off no work (usury) and investing in others misery, the whole time, “supporting the troops”..A Neocon that is protecting his own skin off the misery of others….a perfect example of “free enterprise” as practiced….

karen

Democracy… while it lasts is more bloody than either aristocracy or monarchy. Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There is never a democracy that did not commit suicide.
John Adams

Folks should research famous quotes by are founding fathers these men where the most astounding men way beyound their time and they left many a warning for humanity but sadly most will not understand the true meaning of their words. Never spend your money before you have earnrd it. Thomas Jefferson

jerry O

This is an excellent article.

It hits the nail right on the head.

We are heading for a major downfall
in the world’s economy.

The good news is that you can be
prepared like the people he
talked about in his article.

See what one millionaire has
predicted and how you can
profit like the ultra rich.

It could start to hit the fan in just the next couple of weeks. Greece has to default sometime. That will cause bank runs, bank failures, and problems with other country’s sovereign debt. If banks in Europe go bankrupt they can’t buy our debt either. You have to wonder about credit default swaps too. Overleveraged banks with too much debt sell each debt default insurance that they can’t cover.

007

Scary, to think the world economies are at the mercy of European bafoon politicians and crooked bankers. The odds don’t look to good right now.

Rancher

All this and more is why we have been preparing ourselves, our Ranch and then working with other of like commitment to endure said hard and dangerous times ahead. We had to walk away from most of society and the pitfalls it has. Went 100% debt free many years ago. It is simply amazing what one can afford when one has no interest on one single monthly bill.

These articles only help us realize what we began so many years ago when it was not so cool to detach from it all…is so worth it now. Good luck.

Each country has gold. It sits in their central bank. Those countries own the US money. The US carries debt. This is true. We also carry over 70% of the world debt. We carry debt for friends and foes. Every time a country needs something and they don’t want to go to China for it, they come to us. We get it from China and then give those countries it on credit based on the gold in their central banks.

The American People don’t know this because Congress and the Whitehouse have their little oversight committees hiding in the background and spend money offshore so no one knows what is really going on. The US only has jurisdiction over the US.

That means they can’t balance the budget if they dont have accountability for what goes in with our money outside of the US. If they did have accountability then we would know about all of their little side deals and all hell would break loose.

Europe only works 6 to 8 months out of the year which is the average for most modern countries except the US. We work all year round and we work more than one job. We carry the debt of the World on the backs of our labor dollar. We have enslaved ourselves to a government that has no intentions of being accountable to it’s people and this government has done it through welfare, health care, education and bail outs.

They have strong armed the larger businesses with Unions and made the banks the patties for thier shell games. They have created a divide in the country to build a trap for fools. The goal is not to win but to weaken our courtier social structure so that it can be easily manipulated over time. It has taken decades to get to this point and the more that people look to blame someone else instead of working towards helping the State Governments get control over the Federal Government the more rights we will loose as State, Fedreal and Global Citizens.

We elected these people to do a job. We may or may not have voted for them but they are there and they work for us. We need to hold them accountable and make them do their job which is represent us properly. If they had a real job and didn’t do it or broke the laws they would be fired.

Why are we letting politicians and government officials run off with generations of our hard work and allow them to burry generations to come buy using distractions to step around the truth of what they are really doing with not just our money but with our names as Americans and protection of our blanket of freedom outside of the US.

Why is HUD dumping property onto the cities and states at $100 each because they can’t get them off the books. While the government has paid off these homes 4 times and in less then 5 to 7 years instead of the lenders waiting the 30 years they were supposed to?

China got that money through the backend of those banks!! Each hedge fund and insurance company that had the banks servicing those loans got paid. Now they dont want to pay for them to be ripped down and are sitting condemned.

Normally I wouldn’t care. But a Vet can’t collect their benefits without an address for permanent residence. That means the Fed doesn’t have to give them that money either. Mean while they are giving 4 out of 6 people a handout.

Why are they not giving those properties to the Vets so they can fix them and live in those neighborhoods to stabilize them?

We used to give Vets first dibs on jobs. Not anymore. We used to take care of the elderly. Not anymore.

If you were in the dot com boom and refinanced your house to the hilt that’s ok. If you charged your credit cards to the max it’s ok. If you lost your 401k during the meltdown that’s ok. If you want to get extended unemployment that’s ok. If you want to get free health care here it is. If you want your college loan forgiven we can give them that too. We will even let them live rent free and mortgage free for a year and give them the money to sit home on welfare.

Just dont ask where the big money is going outside of the US. Dont ask about where the books are on the Global Debt we are carrying for the world.

We wouldn’t want the American People to figure out that they just got paid off to look the other way and let the government walk all over their blanket of freedom. While they misrepresented our country to the world.

And we can’t say a damn thing about it because we were too busy looking for a handout from the Federal Government. I mean after all, you can’t bite the hand that feeds you.

All the while those other countries are sitting on the gold to back them up for the money they owe us. They just haven’t tallied their books up to show who owns the US what because then the world would know that we own almost 70% of the world for carrying their debts with China and China would know how much we really control. The liberals would blow through that money like a spending spree at Walmart. The conservatives would have a meltdown and the Federal Government would loose control over who gets what!

CottonMan

Wonderful article that needs to be sent to all of our friends and let them know what our government is doing to all of us and the future of our children.

Michael

CottonMan:

Thank you for saying that. I really, really value everyone that helps spread these articles to others.

Michael

Kevin2

I’m inclined to believe that the one world currency will be the USD as they freeze exchange rates and the Federal Reserve is the only issuing authority. Once exchange rates are frozen the pictures and local significance of the words on the various national currencies does not matter at all. This plan would not backed by the “Good faith and credit of the USA” but rather the might of the military through MIC. The present goal I believe is to secure as much resources worldwide and install puppet governments as de-facto administrators. In reality the leaders of these nations are similar to Royal Governors without the citizens of those nations having the status of a Commonwealth.

“Let me control a nations money supply and I care not who writes it’s laws”.

joehancl/PRAY, it works

Yes, its going to be a *********** up world. But why must it be gloom and doom. Come on people there is a higher HOPE to reach out to. As children our parents taught us about HOPE and GOD. Reach out to Him The Almighty. He did not create the world to let it blow up. What Perfect Intelligence does that?

Patrick

Hi Everybody,

I have been following this situation for years, and while it is depressing, there is one factor that is being forgoten. We are Americans, and when things are at their worst, we are at our best! Have we all been living a false American Dream? Yes! Have we all disregarded both what the Bible and the Founders stated about debt? Yes! Will there be very tough times ahead of us? Yes! Does this absolutley need to happen for all of us to have an understanding of why saving money is an imperative? Yes! Talk to any person (still alive) that lived through the Great Depression and you will understand how far materialism has permiated our culture. Through great trials, great character is built.

I am old enough to remember the attitudes and fears in 1979. Even though I was a child at the time, the depressed mood of the country was palatable, as it is today. Two events happened in that year to change the entire mood of the country. We beat the Russians in hockey and Ronald Reagan was elected. In a few short years the American people believed in American exceptionalism again. I do not believe this statement to be hyperbole. We can do this again as long as we do not embrace the model of the French Revolution, but instead have “firm reliance on the protection of divine Providence”.

What I am saying may seem to be overly simplistic and that I do not grasp the larger picture. I assure you that I have immersed myself in Secular Humanism, Marxism, Socialism, Islam, Public School systems, Charter Members of the European Union, Fabian Socialists, and all of the other ism’s that are tearing away at the fabric of the American experiment. These enemies are formidable, and they are very organized. Since the 1920’s they have owned and opperated our school systems in order to dumb the American people down and have largely succeeded. This does not mean that we cannot reverse this situation with hard work and a non-selfish attitude. What these people fear the most are strong Christian Families, and I do not mean the watered down Christian Families of today. If you do not believe that statement, read the Huminist Manifesto.

S. Wiseman

Since the economy is just one big pyramid scheme and the money supply in circulation is limited, the ONLY way to pay off the debt and ensure that we Americans (and the rest of western civilization) have good paying jobs with fat bonuses:

– millions of people have to die in wars
– millions of people have to die from disease, starvation, pandemics, civil unrests (always instigated by the top)
– millions of people have to lose their jobs

Only then will enough jobs (and food) remain to dole out to the serfs left behind and only then will we enjoy what passes for comfort and security. But that comfort and apparent success are all just an illusuion, an illusion that came at great price of lives. And don’t complain about the rich. Just as you support millions of people above you in the economic pyramid, there are millions of people below you holding you up. To those below, you are the rich! If the rich are greedy, why are you so selfish?

D

WWIII is just around the corner. It’s the NWOs final stick for full power (the destruction of the world). See you guys on the other side.

MarkD

Moses told the Pharaoh a famine was coming. The Pharaoh listened the people didn’t. The people gave everything to the Pharaoh for food, first their money then their land followed by their own lives in slavery. Obama “the government” is the Pharaoh he/they knows it is coming and is preparing to enslave the world. Micheal your are a Moses, if only the people will listen. I believe God has told us to prepare. Yet the sheep continue to aimlessly graze unaware of the the wolf!

KB

Well, just like Moses, most of ’em look at us like we’re crazy when we mention what’s coming…they just don’t think it will happen to them.

Hoarding nickels is actually a good thing to do. The copper in a nickel is worth about 8 cents, and they haven’t started making zinc nickels yet, so you don’t have to sit there squinting at them like you do pennies to sort out the zinc ones. I think they’re supposed to start making zinc nickels in a year or two, so get started now.

If nothing happens, i.e. the dollar doesn’t crash, you still have money, because nickels are money. If the dollar is replaced by a totally different currency, you have copper you can sell for the melt value at a profit to you of (now) 60%. If the dollar goes into hyperinflation and is re-cast, i.e. if they come out with New Dollars or something like that, that are worth 100 old dollars, either they will keep all the nickels in circulation and say they are now worth 5 cents in the new dollars, in which case you lost nothing; or they will replace all the coins, in which case you still have copper for melt value just like if they replaced the dollar with something completely different.

The only way you would lose would be if inflation went slowly and you just held onto those nickels for years and years until they were worth 5 percent of a very devalued dollar. But at some point due to the cost of copper they will HAVE to start making zinc nickels, and you still have the melt value of your old nickels, so that’s really not losing.

Another disadvantage to hoarding copper is it’s heavy compared to silver or gold – but it’s also less likely to get confiscated if they get too happy in Washington.

The Unicorn

Only 99% pure copper is worth anything (virgin copper) thats what is used in electric wiring as a conductor,after its been alloyed its only good for copper tubing, stuff like that which can be replaced cheaper and easier than alloy copper.Pure copper or pure nickel maybe a good investment.The melt value and what someone will pay to get the copper out are 2 different things.

Thomas Jefferson warned us, “If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”

We’re on the precipice of all of Jefferson’s warning coming to fulfillment.

Abraham Lincoln said, “I have two great enemies, the Southern Army in front of me and the financial institutions in the rear. Of the two the one in my rear is my greatest foe.”

He was assassinated later that year.

President James A. Garfield said, “Whoever controls the volume of money in our country is absolute master of all industry and commerce and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”

He was assassinated two weeks later.

President Kennedy declared the privately owned Federal Reserve Bank would soon be out of business.

Five months later he was assassinated.

So who’s behind the Federal Reserve and the assassinations?

Mayer Anschel Rothschild said “Let me issue and control a nation’s money and I care not who write the laws.”

What fate, having both pistols misfire. It’s amazing that they didn’t make another attempt on his life.

It makes you wonder about Ron Paul’s safety if he got elected as President.

Syrin

To say the Tea Party has failed in this area is naive at best, and malicious at worst. The Tea Party represents a true minority of elected officials at this point and don’t have the numbers to make the changes needed. They have to fight the Marxist party (dems) AND the marxist party lite (establishment GOP). When you have to fight BOTH political parties, an attack media, and mis-information like this garbage, it’s no wonder. The Tea Party HAS brought this issue to the forefront of most Americans, most of which agree with the issue. Get some clarity people. Who has failed is the establishment party on both sides with the regressives doing things on steroids.

007

Amen

Morpheus

How can it be that everyone is in debt? Who owns all of this debt? No one, most of the money is created out of thin air, so the debt is mostly vapor. Don’t be a slave your whole life.

Michael, the following is from a John Mauldin newsletter. This one is about the FED. This is only a small part of the newsletter.

I am confronted all the time on the road by investors who want to know my basis for stating that we will not see hyperinflation in the US.

(Here he gives many reasons why he thinks we won’t see hyperinflation and then below he adds why it could be possible)

What could change my mind? If the (how to say this politely?) ill-conceived (stronger words come to mind) proposal by Financial Services Committee ranking member Barney Frank (D-Mass) were to see the light of day, I would get very concerned. According to Bloomberg and The Hill, Frank plans to submit a bill that would remove the votes of the five regional Federal Reserve presidents from the 12-member Federal Open Markets Committee (FOMC), which sets interest rates, and replace them with five appointees that would be nominated by the President and confirmed by the Senate.

Frank says “he is concerned that the process is undemocratic because the regional Fed presidents are not elected or appointed by elected representatives, and he believes that regional Fed presidents are overly likely to focus on guarding against inflation at the expense of more adequately tackling the country’s unemployment crisis.” (US News and World Report)

Basically, he wants the Fed to be subservient to the politicians. Under his proposal, the FOMC could lose what independence it has in a short time. This is part of a strain of thought that suggests that the decisions that affect all of us should be made by a few elite people who purport to understand what is going on, which coincidentally are government insiders and the academics who foster their agendas.

Remember that Barney Frank is the one that had a large part in causing the housing bubble and collapse with his “everyone should own a home whether they can pay for it or not mind set”
He indirectly controls Fanny and Freddie.

Expanding debt and currency without end is the recipe for hyperinflation. I think it’s obvious now that government promotes this expansion. That is it’s role in the Wealth Transfer Mechanism. As the debt expands and the currency loses purchasing power, real wealth is transferred to the banks and people are left holding worthless paper. That is the record of history.

They Have Enslaved Us With Debt
“Every circulating Federal Reserve Note represents a one dollar debt to the Federal Reserve System.” – Money Facts, House Banking and Currency Committee

Since the Federal Reserve Act was established in 1913, the US Dollar has lost 95% of its value in relation to gold.

So not only are they enslaving our country in debt, but they are reducing the value of our hard earned money.

They Stole Our Real Money – President Roosevelt confiscated our gold. After JFK was killed, they took away silver certificates. President Johnson removed silver from our coins. And President Nixon took us off of the gold standard.

They Gave Us Fake Money – They gave us Federal Reserve Notes, which are not backed by gold or silver, and can be devalued at any time.

“Bankers own the earth; take it away from them but leave them with the power to create credit; and, with a flick of a pen, they will create enough money to buy it back again… If you want to be slaves of bankers and pay the cost of your own slavery, then let the bankers control money and control credit.” – Sir Josiah Stamp, Director, Bank of England

They have setup private Central Banks (including the Federal Reserve) in almost every country in the world…

and then they enslave the country and its people into debt with wars, inflation and depressions.

The last countries to get their Central Banks are Iraq, Afghanistan and Libya.

Do you notice a trend with where the U.S. Military has been?

mondobeyondo

In 1835, the U.S. government debt was 0.
That’s right, zero. The only time that has ever happened. Andrew Jackson did a great job fiscally speaking.

It’s been going uphill ever since.

Larry

Michael, I received the following email letter today. You may or may not want to run it here but you can read it. It is relevant and true.

To All My Valued Employees,
There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn’t pose a threat to your job.
What does threaten your job however, is the changing political landscape in this country. Of course, as your employer, I am forbidden to tell you whom to vote for – it is against the law to discriminate based on political affiliation, race, creed, religion, etc.
Please vote for who you think will serve your interests the best.
However, let me tell you some little tidbits of fact which might help you decide what is in your best interest. First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a back story.
This back story is often neglected and overshadowed by what you see and hear. Sure, you see me park my Mercedes outside. You saw my big home at last years Christmas party. I’m sure all these flashy icons of luxury conjure up some idealized thoughts about my life. However, what you don’t see is the back story.
I started this company 12 years ago. At that time, I lived in a 300 square foot studio apartment for 3 years. My entire living space was converted into an office so I could put forth 100% effort into building a company, which by the way, would eventually employ you.
My diet consisted of Ramen Pride noodles because every dollar I spent went back into this company. I drove a rusty Toyota Corolla with a defective transmission. I didn’t have time to date. Often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business — hard work,discipline,and sacrifice.
Meanwhile, my friends got jobs. They worked 40 hours a week and made a modest $50K a year and spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes. Instead of hitting Nordstrom’s for the latest hot fashion item, I was trolling through the Goodwill store extracting any clothing item that didn’t look like it was birthed in the 70’s.
My friends refinanced their mortgages and lived a life of luxury. I,however,did not. I put my time, my money, and my life into a business — with a vision that eventually, some day, I too, will be able to afford these luxuries my friends supposedly had.
So, while you physically arrive at the office at 9 am, mentally check in at about noon, and then leave at 5 pm, I don’t. There is no “off” button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have the freedom. I eat, ****, and breathe this company every minute of the day. There is no rest. There is no weekend. There is no happy hour. Every day this business is attached to me like a 1 day old baby.
You, of course, only see the fruits of that garden — the nice house,the Mercedes, the vacations… You never realize the back story and the sacrifices I’ve made. Now, the economy is falling apart and I, the guy that made all the right decisions and saved his money, have to bail out all the people who didn’t.
The people that over spent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed a decade of my life for. Yes, business ownership has its benefits but the price I’ve paid is steep and not without wounds. Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why:
I am being taxed to death and the government thinks I don’t pay enough.I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my “stimulus” check was?
o. Nada. Zilch.
The question I have is this: Who is stimulating the economy? Me, the guy who has provided 14 people good paying jobs and serves over
2,200,000 people per year with a flourishing business? Or, the single mother sitting at home pregnant with her fourth child waiting for her next welfare check?
Obviously, government feels the latter is the economic stimulus of this country. The fact is, if I deducted (Read: Stole) 50% of your paycheck you’d quit and you wouldn’t work here. I mean, why should you? That’s nuts. Who wants to get rewarded only 50% of their hard work? Well, I agree which is why your job is in jeopardy. Here is what many of you
don’t understand … to stimulate the economy you need to stimulate what runs the economy. Had government suddenly mandated to me that I
didn’t need to pay taxes, guess what? Instead of depositing that $288,000 into the Washington black-hole, I would have spent it, hired
more employees, and generated substantial economic growth. My employees would have enjoyed the wealth of that tax cut in the form of promotions and better salaries. But you can forget it now.
When you have a comatose man on the verge of death, you don’t defibrillate and shock his thumb thinking that will bring him back to
life, do you? Or, do you defibrillate his heart? Business is at the heart of America and always has been. To restart it, you must stimulate it, not kill it. Suddenly, the power brokers in Washington believe the
mud of America are the essential drivers of the American economic engine.
Nothing could be further from the truth and this is the type of change
you can keep. So where am I going with all this? It’s quite simple. If any new taxes are levied on me, or my company, my reaction will be swift and simple. I fire you. I fire your co-workers. You can then plead with the government to pay for your mortgage, your SUV, and your
child’s future. Frankly, it isn’t my problem any more. Then, I will close this company down, move to another country, and retire.
You see, I’m done. I’m done with a country that penalizes the productive and gives to the unproductive. My motivation to work and to
provide jobs will be destroyed, and with it, will be my citizenship.
While tax cuts to 95% of America sounds great on paper, don’t forget the back story: If there is no job, there is no income to tax. A tax cut on zero dollars is zero. So, when you make decision to vote, ask yourself, who understands the economics of business ownership and who
doesn’t? Whose policies will endanger your job? Answer those questions and you should know who might be the one capable of saving your job.
While the media wants to tell you “It’s the economy Stupid” I’m telling you it isn’t.
If you lose your job, it won’t be at the hands of the economy; it will be at the hands of a political hurricane that swept through this
country, steam rolled the Constitution, and will have changed its landscape forever. If that happens, you can find me in the South
Caribbean sitting on a beach, retired, and with no employees to worry about.

Signed, Your boss,

Michael

Larry:

Did you get this from your boss or is this something that someone else sent you?

Michael

Larry

Michael,
A good friend sent this to me.
Larry

Gary2

The boss did not get rich on his own. he used the infrastructure we all pay for.

Tell the bum to shut up and start paying his fair share.

See Elizabeth warren video on you tube. “No one succeeded on their own”

Sounds like some rich asshole who does not want to pay his fair share. I feel no sympathy for these rich asshole business owners who like to pretend they are self made.

Time to go drop another job creator in the toilet.

getreal

Right on Gary! What the pinhead fails to mention, is that without a strong middle class “sqaundering” their pittance 50k on “luxuries” there would be no demand….for the products or services his wonderful business makes available.

prosperity for all

That businessperson deserves tax breaks. It’s in the details where it’s implied employee wages are enough to meet a mortgage payment, and an SUV and with enough to save for a childs future.

We are more than $14 trillion in the hole. So at this rate, we’d be debt free in around, oh I don’t know, the year 1,855,238 AD. This country won’t be around that long. We’ll be lucky to survive the next 20 years.

This is just the beginning folks. Don’t just survive this economic crisis, thrive during it!!! To learn more about how YOU can become a part of our movement to restore personal wealth and freedom please visit:

“But wasn’t the Tea Party supposed to do something about all of this crazy government spending?
Unfortunately, the Tea Party has failed in this area.”

Uhh, Mike perhaps you’re aware that the Tea Party is in control of NOTHING.

Michael

Yes, but there were some “Tea Party” members that have actually been voting for some of these spending bills.

Michael

Mal R.

Which Members and which bills?

Scott

Nothing will ever improve as long as our Unconstitutional wars continue. We need to end the wars, close the military bases, and demobilize our standing army.

Unless and until this happens, nothing will ever change, things will only get worse and worse.

bobbobbobbob

also invest ie build plants in amerika but u cant because the rebuplicanterrorists will never allow u(yourwhitetrashceos) to stop outsourcing. and u morons do not see the connection between tax credits for outsourcing and your truely banana status. me im working on my italian dual citizenship. chow

This is one of the best articles I have read in a while. I recommend everyone who is standing up for liberty get educated about the federal reserve. We went down last friday and set up a projector at the minneapolis occupy and played “the American Dream” and handed out dvds of the film. I suggest we all who know abotu the fed educate those who are already standing in protest to understand the root of the evil! End the Fed! Ron Paul 2012

007

Funny, the occupy wall street croud seems to have figured out the Fed is at the heart of many of our financial problems. This is major focus of their protests. However, the media seems to ignore this aspect of their protest.

Kathy Smith

I read this blog & others everyday & I had no idea a trillion $’s was that much. Why does our govn. continue to act like there is a solution to this financial mess? Yes the crash is coming GOD help us all.

You are not alone, Kathy. Most people never stop to think about how much a trillion dollars represents (let alone FIFTEEN trillion). Then again, our leaders do not want us to know how much it is.

I am a bit of a math nut and I did a presentation for our local TA Party about a year ago. I gave a demonstration of how long a train would have to be to haul a trillion dollars worth of pennies. The train (with 70 tons of pennies per car) would stretch all the way around the world and continue for another six thousand miles or so.

After reading this short 100 page book, you will understand how to become completely legally free of the feminist legal system worldwide. That is, no woman will ever be able to persecute you or harm you through false DV charges, false rape accusations, feminist divorce courts, etc. In short, you will indeed be a free man in a world of feminism, free and safe from being harmed by feminism.

prosperity for all

Maybe if a TV show came on titled HAPPILY EVER AFTER promoting solid unitedness in a union to change the current wrongheaded American Culture on love and marriage the tide will turn. What we have now, isn’t the country or culture I grew up in. and it’s not for the better, to be sure.

The Elites Are Insane!

We are way past the eyeballs, as per The Daily Bail by way of Bloomberg, and you are not gonna believe it:

Wow, This is an absolute disaster waiting to happen. Move the toxic derivatives to the bank with the public’s deposits. When the banks default in Europe it will trigger massive defaults in Bank of America. Depositors funds will be at risk. The FDIC will have to cover the loss. However, adit is broke Congress will have no choice but another bail out. The taxpayers take it in the rear again. Pure evil.

They have effectively transferred all this liability to the American Taxpayer by way of moving it to an FDIC insured institution so that when the EU blows up, all the CDS written against defaults in EU countries will be on the backs of the American Taxpayers. We are approaching the final acts of this tragic play.

They are setting us up for the big fall with this bovine excrement, and they will say nobody could of seen it coming. MY ARSE! Other banks are doing this or will be soon while the getting is good, and the sheep are ready for another good shearing. Prepare accordingly.

There is net debt. Debt is simply one of many ways of redistributing wealth and income. For every American struggling to find a dollar to pay a debt, there is a billionaire waiting to get it, and use it to further corrupt the system.

007

Agree, I wonder how long it will be before runs on the banks start. Who wants to have their life savings parked next to these time bombs.

Piglet

“Back in the early 1980s, Ronald Reagan declared the national debt to be a national crisis.” And what did he do about it? We know how that turned out.

This is where lawlessness gets societies. The insane banker’s derivatives market is somewhere around 600 TRILLION dollars. Can you spell AVALANCHE? Yes the insane, greedy socio-paths who are bankers have broke the world.

007

When these derivatives come due, the government could not print enough money to cover the losses. Maybe, that was their plan all along. I wonder who is holding derivatives insuring against defaults of European governments and their banks? How much in derivatives will come due? Probably over 100 trillion.

The world freaked out over the 1 trillion dollar bail out we did last time. Imagine that times 100.

mondobeyondo

The derivitaves market, when it does crash and burn, will destroy us all.
The 2008 financial crisis was Hiroshima. A derivitaves crisis will be Tsar Bomba. (The most powerful nuclear explosive device ever set off by mankind. Watch videos on YouTube of the Tsar Bomba going off. It’s rather impressive!)

Afi K. James

This article speaks the truth.

r.bitting

In Christ the solid rock I stand, all other ground is sinking sand. God loves you people and desires for you to be saved.

The Elites Are Insane!

The amount I last heard a long while back, including OTC and Private/shadow derivatives amounted to $1.2 Quadrillion Dollars. Who knows what the maniacs of financial weapons have floating at this point. $1200 Trillion Dollars, and there is no counterparty in the solar system who can cover it. Forget about popcorn and head directly to the bunker.

Fred

Its too late to undo the damage in the financial system. The smoke and mirrors in Europe and the United States are a joke. There is no solution except a write off of bad debt that will affect everyone for a few years. High unemployment, poverty, starvation, living in tents is America’s future for the next ten years when everything falls apart. I want to thank the Republican and the Democratic Party for creating an awful future for millions of people around the world.

Owen

“When the righteous are in authority, the people rejoice: but when the wicked bears rule, the people mourn.” Proverbs 29:2. It looks like the entire world use a Year of Jubilee: “‘You shall thus consecrate the fiftieth year and proclaim a release through the land to all its inhabitants. It shall be a jubilee for you, and each of you shall return to his own property, and each of you shall return to his family.” Lev. 25:10. “But if he does not acquire the means to repay him, what he sold will remain in the possession of the buyer until the Year of Jubilee. It will be returned in the Jubilee, and he can then go back to his property.” Lev. 25:28.

SMASH THE CONTROL MACHINE

They are not only to big to fail, they have becomed to big to Jail.

Manu Costa

Figures today show that less than half of all Americans pay taxes, but their voices are the loudest in complaining that the rich need to pay their fair-share. Currently the rich are protesting the rich on Wall Street, enjoying catered meals, playing with the latest technological gadgets on the market, and calling for higher taxation of the rich. Is this part of the elite’s “Creative Destruction?” Has this entitlement craze been ever expanding since 1913, the year the Federal Reserve was created? Who owns the Federal Reserve? Has the concentration of economic power gone too far?

jackro

Before you go bashing the Tea Party as “not doing anything”, remember that they only hold, at best, 50 seats in the house(or 1/5 roughly of the GOP people in the house). I think there are 2-5 in the Senate, which is still controlled by the DNC.

Rather than bashing the Tea Party on its “morals”, how about bashing the GOP leadership(they are the ones that pick and choose what bills even come up), and the Senate, which hasn’t passed a budget in over 1000 days. This is where the problem lies, not the Tea Party minority that is trying their best to throw their minor weight around.

Michael

Good point. Perhaps I was a bit harsh on the Tea Party movement, but I expect more out of them than I do average members of Congress.

They could have stopped these spending measures if they wanted to. There are lots of procedural things they could have done.

Michael

javajaw

My new game show, ‘Work, you sorry slob’, will have a host offer a random welfare-sucking unemployed slob a MILLION DOLLARS if he can get a bona fide forty-hour-a-week job, without deception or revealing his incentive, in 24 hours.

Go, dogs, go.

Mark

If there is more debt than dollars available, and every new dollar has debt attached to it, how do we expect NOT to collapse?

Vote for Ron Paul and ending the FED.

mile

who could insure against 1.5 quadrillion collapse……lieing mining futures companys..?

Jim Shores

If a global milita of 10% of the world’s population (6,000,000,000 fighters)were to go after the mercenaries protecting the NWO elite that say we must starve and die so they may collect on the debt the say we owe them, we could wipe them all out in 24 hours. Time for the “WAR FOR THE WORLD” (humanity). The NWO eugenicists state they want to kill 80% of us (48,000,000,000)so we must defend ourselves.

Elaisa

Careful Jim, they will not be using bullets. They will be using Militarized Small Pox.

Ya can all piss on the bonfire till yur kidneys give out. Nuthin is gonna save you from the raging
fire.Dont ya see yur leaders are fanning the flames
toooo many eaters most considered useless by the elite.The herd has to be culled first financially then militarily so,s the dumbass string pullers can
hang on too there power.
Stock up on guns ammo and food.The fat lady has sung her last tune and has farted in yur faces
before leaving the stage
Howard

Draken Korin

As a former finance profession­al, I tell you YES, the banking/lending system is predatory, rigged against the middle and working classes, and the time is now to collapse it.

Wide-scale DEBTORS’ REVOLT — DEFAULT-EN­-MASSE is the answer, or at least part of it.

The fact remains that the black hole of debt will destroy the working and middle classes. These “contracts­” are not inviolable things; they were made during a *different era*, a *different economy*, and the ability to pay them back has evaporated­. Therefore, cancel student and other types of predatory debt, or the revolt en-masse will occur, and soon.

The momentum grows. Join us. Walk away from your debt instruments and help speed up the desirable collapse of the predatory banking system. Rebuild from there, under fair rules – responsible capitalism that recognizes the need for a economically strong workforce and middle class.

…And to the folks who will immediatel­y answer with “pay what you owe. end of story!”, let me just preempt by answering that the analysis is more structural and macro in scope than that. It’s not just a matter of whose “fault” it is – regardless of that, it’s become a macroscale systemic distortion that, if allowed to continue, will prevent any sort of mobility in the long term. We, as a nation, need to simply suck it up, recognize that these contracts were made in what is essentiall­y a different economic era, and recognize that they are incompatib­le with the new situation. It has to simply be zeroed.

And yes, it will cause widespread systemic collapse, but this will be temporary, we will adjust and rebuild, and will have cleansed out the massive DISTORTIONS that currently plague the system.

“I place economy among the first and most important virtues and public debt as the greatest danger to be feared. Thomas Jefferson. When a business spends more than it makes, it goes bankrupt. When the government does it sends the taxpayer the bill. When the government does it for forty years, the bill comes in two ways: Higher taxes and inflation. Ronald Reagan. i read where one government think tanks stated that the unemployment would be about the same through 2015.

ralph nomad

My friends we are about to go into the great tribulation the bible talks about.Jesus has said money will fail and its about to happen.he said thats when he will return for his people.He says in those days the kingdom of heaven will be like ten vergins five wise five foolish the five wise braught extra oil for there lamps the foolish did not. the foolish had to return to the stores to buy oil. the wise lit there lamps and when the bride groom came he let the wise in to the gates but when the foolish came he had already closed the gates.The lamp of the body is the eyes Jesus states. so when the great tribulation comes watch the sky with your eyes day and night expecting him less he catches you unaware. and dont forget to bring enough oil (food and other supplies)to keep your lamps burning. Beware I come like a thief in the night At an hour you do not expect.So when money fails and the great tribulation hits watch the skies day and night like your soul depended on it because it does.